NE Watch Desk
Forbes recently released a list of the world’s 10 strongest currencies, with the Kuwaiti Dinar claiming the top spot. To assess the strength of a currency, Forbes takes into account a delicate interplay of factors such as interest rates, inflation, and geopolitical stability.
A robust currency not only bolsters a nation’s purchasing power but also enhances its credibility on the global stage, attracting investments and establishing financial stability.
The Forbes list, based on values as of January 10, 2024, features the following currencies:
- Kuwaiti Dinar: ₹270.23 and $3.25
- Bahraini Dinar: ₹220.4 and $2.65
- Omani Rial: ₹215.84 and $2.60
- Jordanian Dinar: ₹117.10 and $1.141
- Gibraltar Pound: ₹105.52 and $1.27
- British Pound: ₹105.54 and $1.27
- Cayman Island Dollar: ₹99.76 and $1.20
- Swiss Franc: ₹97.54 and $1.17
- Euro: ₹90.80 and $1.09
- US Dollar: ₹83.10
Surprisingly, the US Dollar, despite being the most widely traded currency globally and holding the primary reserve currency status, ranks last among the world’s strongest currencies. Forbes explained that this ranking is indicative of the complex dynamics influencing currency strength.
The Indian Rupee, as per the exchange rate published on the International Monetary Fund’s (IMF) website, holds a value of 82.9 per US Dollar, placing Bharat at the 15th position in the list.
The Kuwaiti Dinar’s consistent top position is attributed to Kuwait’s economic stability, driven by its significant oil reserves and a tax-free system. Forbes noted the Swiss Franc, the currency of Switzerland and Liechtenstein, is widely regarded as the most stable currency globally.
Forbes issued a disclaimer, acknowledging that currency values are subject to fluctuations, emphasizing the dynamic nature of the global financial landscape.
